Study Says 5 Million Foreclosures Imminent

IRVINE, Calif., Feb. 16 (UPI) -- A research firm estimated the number of U.S. homes headed for foreclosure would be enough to stock the housing market with a 10-month supply of unsold homes.
The study done by John Burns Real Estate Consulting Inc., said that 5 million homes, including condominiums, owned by owners behind on their loan payments would eventually fall into foreclosure in the next few years, The Wall Street Journal reported Tuesday.
The study called these homes the "shadow inventory" of homes, which would take 10 months to sell at the current rate of sales on a national average.
At the current rate of sales in Orlando, Fla., the homes would take 27 months to sell. It would take 24 months to sell these homes in Miami and 18 months to deplete thestock at the current sales rate in Las Vegas.
The study said there were 7.7 million mortgage accounts behind on their monthly payments. The study predicted a large majority of these would fall into foreclosure.

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Again, I post the truth, the whole truth and nothing but the truth. Why are there so many people who can not accept the truth?

Check out the Plunge Protection Team (PTT) thread in the Stock Market section. The Real Estate and Currency markets are also covered by the PTT. Estimates I have seen (no one knows because actual numbers are not published) places the off the books liabilities at 5-20T and those are the non-conspiracy thread numbers. 12 million mortgages at an average 250K each is 3 T and that is about the lowest estimated number of non-performing assets currently in the till that I have seen. There are also at least 1 T worth of loans to various countries and companies that have been admitted to but amortization and interest should show up as a revenue stream in the federal budget and I have never heard of them being mentioned. Likewise similar numbers for the stock and bond markets not just here but also in Tokyo and London should be in there as well. So where is the roughly 200 + B in interest revenue that should accrue to the Treasury annually? That is roughly 4% of annual federal revenues.

I wonder if the people will take their flags with them when the Bankers send their Nazi's in to toss them out ?